Information for Buyers

Do your research before you write an offer.

So you've found the perfect home. It's just what you've been looking for. Be aware, you may be thinking with your heart and not your head.  Do some research before you write an offer. Be certain you don’t make a mistake you will later regret.

Here are tips to help you research a homes value.

Have your agent do a market analysis: Most real estate agents will perform a market analysis for sellers. This is not an appraisal, but the agents best estimate of a homes' value. Have your agent perform a market analysis for you as a buyer. Pay close attention to comparable sales in the neighborhood. This is what an appraiser will use if you purchase the property.

The Internet: There are several web sites that let you research home values.

Case Shiller Weiss Inc: Offers a system used by banks across the country. For $25 they will give you an objective estimate of a home's value.

Home Value Check: For $14.95 you can get a valuation of a property that includes: the current market value of the property, 30 comparable sales, property tax information and more.

Yahoo: Yahoo offers a free service that allows you to research property values two ways:

    1. You can search by location and find all homes that sold on a particular street or find the sales history of a particular address.

      That is, find out what the seller paid for the home.

    2. You can search by price range for all homes in a particular city.

TIP: Be a smart buyer and know a homes' value before you make an offer. If a home is overpriced, let someone else pay too much.

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